Effectiveness of the Board

The effectiveness of the Board and its Committees in discharging their duties is crucial for our success. To operate effectively, the Board and its Committees need a balance of skills, experience, independence and knowledge.

Constructive Challenge

All Board Directors bring specific insights and make valuable contributions, due to their varied commercial backgrounds. Our Non-Executive Directors - in particular, Independent Non-Executive Directors - provide constructive challenge to the Executive management. The Chairman ensures that the views of all Directors are taken into consideration.

Commitment

Non-Executive Directors are required to commit to at least five days per month, based on the time required to prepare for and attend Board and Committee meetings, the AGM, meetings with shareholders and training. This extends to additional hours in exceptional circumstances.

Evaluation

The Board evaluates its own performance and that of its committees and individual directors annually, with a formal evaluation process at least every three years. At least once a year, our Board undertakes a full strategic review of all OSB’s operations. All Directors are expected to attend all Board meetings and their Committee meetings, and to fulfil their duties as Directors. If Directors are unable to attend a meeting, they are encouraged to submit any comments to the Chairman, to ensure that their views are taken into account during the meeting.

Women in Finance Charter

Find out about some of our aims to improve diversity in our workforce

Our business model

Find out more about our business model